From Forbes (May 19, 2011) “Estate Planning For Women (And the Men Who Love Them)”
Now, more than ever, women need to take charge of this process, or at least be equal participants.
In this article, Forbes’s Deborah L. Jacobs offers an expansive look into the unique position of women in estate law, especially given current developments as of last December, and the unique necessity for women to practice proper estate planning. Among Americans 65 and older, 42 percent of women, but just 14 percent of men are widowed. Women’s longer life expectancy, combined with their tendency to marry older mates and their lower lifetime earnings means they are far more likely to see their living standards compromised in retirement if proper estate planning isn’t done. The article includes a gallery of the “Nine Things Women Should Know About Estate Planning.”
In my practice, I find that many women are so busy taking care of their children, spouse, businesses and parents that they don't take care of these important legal issues. Women are so busy taking care of others (and living life to its fullest) that they neglect the issue of "who will take care of them when they need assistance?" It is so important to address this issue and have a say in the decision rather than leaving that difficult choice to others (i.e. family or the court).
Please check out my website for other articles and blog posts by clicking here Torrance CA Estate Planning.